Maryland's Commercial Property Assessed Clean Energy (MD-PACE) Program

Maryland PACE program

 

MD-PACE is an innovative and affordable way for commercial, industrial, and nonprofit building owners to pay for energy improvements. 

Through MD-PACE, commercial, industrial, and nonprofit properties use private capital to finance 100% of efficiency and renewable energy upgrades which are then repaid as a long-term surcharge on the property. This kind of voluntary surcharge added to a property’s tax bill is similar to a surcharge for a sewer or water line; this approach makes energy upgrades accessible, allowing owners to reduce energy and operational costs and improve their buildings’ overall value.

 

Opportunity Zone

Kent County's Opportunity Zone includes 8.3 square miles or 5,330 acres in Chestertown.

Opportunity Zones are a nationwide initiative administered by the U.S. Treasury created under the 2017 Tax Cuts and Jobs Act. The program provides federal tax incentives for investment in communities over the next 10 years.

The provision in the tax code allows investors to take advantage of big breaks on federal capital gains taxes by investing in small businesses and housing in lower-income communities.

Delmarva Power, EDGE Maryland

EDGE Maryland encourages business growth by offering a discount on energy bills to companies that expand or relocate to the Eastern Shore of Maryland. EDGE Maryland offers businesses a 20 percent discount off the electric delivery distribution portion of their rate for a five-year period based on certain qualifications.

https://www.delmarva.com/MyAccount/MyBillUsage/Documents/PHI_DPL.MD_EDGECommBroch_2.18-ADAComp.pdf

https://www.delmarva.com/Pages/Energy-Discounts-for-Growing-Enterprises.aspx

Innovation Internships

Washington College and Kent County have teamed up to create “Innovation Internships” for students. We are looking for businesses and organizations committed to enhancing their organizational goals and the development of a Washington College student.

“Innovation Internships” are project based, paid, part-time internships that last one semester. Students will work on a semester long project aimed at applying innovative ideas to improve a specific process or aspect of the business they are working with, as well as their regular classwork at Washington College.

 

TEDCO MD Programs

SBIR/STTR America’s Seed Fund

https://www.tedcomd.com/sbirproposal

The SBIR Program

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

The STTR Program

The Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution. STTR's most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.

 

Builder Fund

https://www.tedcomd.com/gateway-services/entrepreneurial-resources/builder-fund

The Pre-seed Builder Fund (or Builder Fund) was created to financially and operationally support the development of startup companies run by entrepreneurs who demonstrate a socially or economically disadvantaged background that hinders access to traditional forms of capital and executive networks at the pre-seed stage. Companies selected for a Builder Fund investment will also receive executive support to better position the company to receive follow-on, professional investment in 12–18 months. The Builder Fund differentiates itself by identifying exceptional investment opportunities in markets that are often overlooked by traditional funding organizations, by advancing the development of those opportunities, and by making valuable introductions that can lead to the next stage of investment.  This program supports TEDCO’s overall mission of discovering, investing in, and helping to build great, Maryland-based companies that grow and last.

Seed Fund

https://www.tedcomd.com/funding/seed-fund

We work alongside our entrepreneurs as partners to drive the next wave of startups. We leverage our diverse operating and investing experience to uncover opportunities to add value throughout the life cycle of our portfolio companies. Our goal is to meaningfully contribute to the greatest shared outcomes.

Venture Fund

https://www.tedcomd.com/funding/venture-fund

The Maryland Venture Fund is an early-stage, evergreen venture capital fund dedicated to funding and growing the next generation of outstanding businesses in Maryland. We are an experienced team with significant operating and venture experience whose focus is on making the entrepreneurs successful. With more than $100M in assets under management, we partner with exceptional entrepreneurs and help them build valuable companies that last. We do not generalize what industries we invest in, but rather buy into our entrepreneurs' vision.

RMI of Maryland

Founded in 1990, the Regional Manufacturing Institute (RMI), a non-profit association, was created for manufacturers in the Baltimore Metropolitan area. Today, RMI of Maryland represents the interests of manufacturers statewide – providing programs, services, and advocacy.  RMI initiatives include Energy Services, Industry 4.0, Image Campaign, and Techtonic Shift.

https://rmiofmaryland.com/

Manufacturing Extension Partnership

The Maryland Manufacturing Extension Partnership (MD MEP) is a non-profit organization funded by industry and the State of Maryland that is focused on growing and strengthening Maryland manufacturers. Serving mostly small- and mid-size manufacturers (500 employees or less) across all industries, MD MEP provides an array of programs and services to help these local companies operate more efficiently, grow profitability and create more jobs and opportunities in Maryland. MD MEP is part of the MEP National Network™ and has served more than 400 manufacturers across the state, generating more than $217 million in economic impact and more than 900 jobs.

ExportMD Program

Maryland companies that receive an ExportMD Award are eligible for up to $5,000 in reimbursement for expenses associated with an international marketing project. The program is funded in part through a Cooperative Agreement with the U.S. Small Business Administration.​

Eligible expenses are any expenses related to an international marketing initiative including trade show fees, airfare, translation of brochures and web site development. 

Companies that do not qualify for the ExportMD program can still receive other forms of assistance through the Maryland Office of International Investment and Trade​ (OIIT)​. Please contact the office to learn what resources may be available to your firm.

http://commerce.maryland.gov/fund/programs-for-businesses/exportmd-program

Vineyard Initiative

Kent County, Maryland has historically prized its agricultural heritage, and was named the “2007 Best Place to Live in Rural America” by Progressive Farmer Magazine.  

In order to continue that legacy, Kent County has encouraged and supported the use of diverse agricultural products and processes. Our latest effort in support of a strong agricultural economy was to aggressively promote a significant expansion in the wine-quality grape growing industry in our county and our region....

 

Chestertown HUBZone

The HUBZone Contracting Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses. These preferences go to small businesses that meet specific criteria. Learn more...